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KY State Exam Practice 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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KY State Exam Practice 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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KY State Exam Practice.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/KY%20State%20ExamKY STATE PRACTICE EXAM
1. To whom may a closing company in Frankfort disburse commission checks?
A. Directly to the sales associates
B. To the listing broker only
C. To the selling broker only
D. To whomever is authorized by the listing firm's principal broker
ANS A. Directly to the sales associates
2. Top of the Hill Realty in Kentucky decides it's time to clean out the files. What's the
most likely first step?
A. Delete all outdated files from the hard drive.
B. Incinerate all outdated paper documents.
C. Prepare a backup copy of all outdated records.
D. Review the firm's and KREC's record retention and disposal rules.
ANS D. Review the firm's and KREC's record retention and disposal rules.
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3. The Kentucky Real Estate Commission can hold an emergency hearing for what type of
alleged violation?
A. Disciplinary violations
B. Escrow violations
C. Ethics violations
D. RESPA violations
ANS B. Escrow violations
4. Hannah's license renewal date is just six months away. How many hours of
continuing education does she need to document to meet the biennial CE requirement in
Kentucky?
A. 10
B. 12
C. Eight
D. Six
ANS B. 12
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5. Which of the following is true about deposit of Kentucky earnest money funds?
A. Brokers should deposit earnest money immediately upon receipt for best security of
the funds.
B. Earnest money can't be deposited into the same account as security deposits.
C. Earnest money must be immediately available if a buyer's offer isn't accept- ed by all
parties, so it shouldn't be deposited in an escrow account until the contract is signed.
D. Earnest money presented with an offer not accepted by the seller must be
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available within three days of the offer's termination.
ANS C. Earnest money must be immediately available if a buyer's offer isn't accepted by all
parties, so it shouldn't be deposited in an escrow account until the contract is signed.
6. KREC cancelled Holly's license because she didn't complete the 48-hour post-
licensing education requirement. What does this mean for her?
A. She can pay $300 to the commission to reinstate her license.
B. She'll need to complete all required post-licensing education and pay all applicable
fees for her license to be reinstated.
C. She'll need to re-take the pre-licensing course and pay all applicable fees for her
license to be reinstated.
D. She'll need to start all over again by meeting the pre-licensing require- ments,
including completing all pre-licensing course, passing the state exam, and paying the
required application fees.
ANS D. She'll need to start all over again by meeting the pre-licensing requirements, including
completing all pre-licensing course, passing the state exam, and paying the required application
fees.
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